The following information is taken from the balance sheet of Menendez Company on January 1, Year 1: 
On January 1, Year 1 Menendez Company paid $2,000 cash to reduce its accounts payable.
How will this transaction affect the current ratio?
Definitions:
Nominal Wage
The wage paid to workers measured in current dollars without adjustment for inflation.
Money Supply
Money supply is the total amount of monetary assets available in an economy at a specific time, encompassing cash, coins, and balances held in bank accounts.
Short Run
A period in economics where at least one input is fixed while others are variable, affecting levels of production.
Output
The total quantity of goods or services produced by a company, industry, or economy within a certain period.
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